How the Pandemic Sparked a Rise in Ransomware Attacks

It seems as though every month there’s a new ransomware attack in the news. What is the cause of the massive increase in ransomware attacks worldwide? What can you do as a business to protect and defend against ransomware groups? Since no business is safe from sophisticated attacks, QuickProtect has put together services to guide you every step of the way. Now, let’s get into the dirty details of cybersecurity attacks, shall we?

CIRA Survey Says...

An eye-opening new survey by the Canadian Internet Registration Authority (CIRA) details the reasons why a business pays ransomware attackers. It says that nearly 70% of Canadian organizations paid ransomware attackers to avoid reputational damage, downtime, and other costs. Interestingly, 65% of cybersecurity professionals support legislation to make ransomware payments illegal. 

Additionally, 36% of organizations report an increase of cyber attacks during the pandemic, up 7% just 365 days ago. Considering the increase in attacks with staff working from home, these organizations have increased their cybersecurity measures. Of these organizations, 95% say they’ll continue to keep at least some of these new security measures in place permanently.   

Other interesting statistics brought to light by the CIRA survey include:

  • 47% of cybersecurity professionals are more worried about their IT security footprint and policies in light of the pandemic;
  • 56% said that cybersecurity requirements have become more common in contracts with third-party vendors;
  • 44% conduct phishing awareness simulations, and
  • 59% have cybersecurity insurance coverage.

Ransomware Attacks: A New Pillar of Your Business Plan

The survey suggests that the pandemic has made cybersecurity even more challenging than it was previously. But with that being said, Canadian businesses are taking these challenges seriously. They’re working hard to face these challenges while still maintaining their core business. Mark Gaudet, CIRA’s Cybersecurity and DNS general manager, feels as though the pandemic forced them to adopt a decade’s worth of cybersecurity policies in just 10 weeks.   Canadian businesses have had to pivot quickly to protect themselves from the increase in security threats.  

QuickProtect Can Help

The report is timely, as October is Cyber Security Awareness Month. Check out Quick Intelligence and QuickProtect this month (and every month) for cybersecurity news and information. Please visit our services page to learn how we can help your business address the matters in the CIRA survey.